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With 2019 Nearly Over- Where are AI, RPA & EDI going in 2020?

  • Where are AI, RPA & EDI going in 2020?

    A perspective by Tangentia CEO, Vijay Thomas

2019 was a significant year for Tangentia. As a recognizable ‘global boutique’ consulting firm that provides bespoke services in Canada, USA and India—we are excited about the progress we saw.

Whether it was our core B2B business of EDI(Electronic Data Interchange) and Ecommerce or the development of our new AI(Artificial Intelligence) and RPA(Robotic Process Improvement) segment, we empowered many businesses to improve their core operations.

But what trends really defined 2019? And which ones will continue to lead the way into 2020?

2019 Was a Milestone Year For Tangentia

2019 was the year we committed to automation through our AI and RPA service offerings. While we had some exposure previously (mostly through providing staffing solutions), we expanded our offerings by creating a new range of services that focused on key problems that businesses face in a multitude of industries. We expanded our partnership with IBM to become a Platinum partner of IBM for Watson AI. Also we are global partners for Automation Anywhere, UI Path and Blue Prism in the RPA space.

We also consolidated some of our legacy services, improving our B2B business segment—which includes our legacy EDI and Ecommerce business. These services continued to grow substantially outside of North America with many significant wins in 2019 in India including India’s largest retailer.

Our global headquarters also moved in Toronto, from Willowdale to the Waterfront district, which saw us join the likes of Google,Uber, LCBO, Royal Bank, and soon Microsoft in what is arguably the fastest-growing tech hub in the world. We are beyond excited to be located in such an innovative area of the city.

How Will 2020 Impact Digital Transformations?

Company accomplishments are important, but the real value is in the lessons we learned from the exciting technologies that we offer.

So, what were the main takeaways from 2019?

Automation Isn’t a Magic Bullet

The RPA industry saw between 600-1000% growth in 2019. These numbers are large and signify that many companies are investing in this technology heavily. Major players in this industry have become unicorns in the investing world as the markets realize the potential that automation has.

However, AI, RPA, automation, and similar technologies aren’t a guarantee. Companies that invested millions into this technology without a plan saw minimal results.

Automation is a catalyst for innovation, but your business needs the right systems in place to take advantage of it. The goal of RPA is to enhance existing systems that are already working. An automation solution will decrease costs, improve efficiency, and other core metrics- but only if an organization understands what areas they need to improve.

It’s important that a company makes small changes that compound over time. We encourage our clients to push for real value and not to fall victim to the marketing pitches that they’ve heard about automation. Our team even has a Continual Process Improvement(CPI) using RPA model that we encourage our customers to try out.

In 2020, we expect to see more companies identify how RPA can help their organization cut costs, improve productivity, and make their business more agile.

EDI Isn’t Dead. It’s Evolving

Yet again, critics made the claim that EDI is dead. But as an EDI solution provider, I can assure you that EDI isn’t going anywhere.

If anything, EDI is evolving and adapting to the digital age. At Tangentia, we see EDI as any B2B communications between two business entities and not through the traditional lens of ANSI X12 or EDIFACT. And while this traditional EDI may be slowing down, XML and API formats aren’t going anywhere—especially in the age of integration. Today, businesses rely on countless apps having the ability to communicate and synchronize flawlessly. This alone will ensure the longevity of EDI as companies look to simplify B2B communications.

Legacy companies will always rely on some form of EDI, while modern startups have the benefit of building out in the digital world. Still, even startups require EDI solutions using either the XML or API formats.

Digital Transformations Matter – But You Must Define What It Means to Your Company

Digital transformation is the buzzword today. Every company is claiming they are making a digital transformation.But what does it really mean?

An effective digital transformation should be all about making incremental changes that drive long-term value and improve the user experience.

For example, a business may use an invoicing system that takes one month to complete. They could realize substantial gains by automating this process down to several days.

One advantage that we can offer our clients is the perspectives we have gained from working in Canada, the United States, and India. We can help companies identify what’s working in one region and find ways to adapt that same technology in another.

Digital transformations aren’t going anywhere in 2020. Successful companies are always looking to modernize and improve the way they connect with customers, employees, and partners. However, we expect to see companies focus more on what their personalized digital transformation looks like.

Where Is Tangentia Going in 2020?

Agile Digital Transformation

Our unique agile approach to digital transformation has allowed us to deliver complex digital transformation projects for the largest beverage alcohol distributor in the world, the largest retailer in India and many mid sized companies worldwide. We will continue to stay true to our belief in the power of the iterative agile delivery model.

Global Boutique

Tangentia is a ‘global boutique’ firm. We know how to execute using a global delivery model with much less overheads than our competitors and that provides our customers with high-end services at a value driven price.

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B2B

    • EDI

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      • Services

      • Integrations

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    • World-leading Proven EDI & B2B Integration SolutionsTangentia B2B

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    • Automate EDI data flow to your business applicationsTangentia EDI

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    • 2000+ Global EDI ConnectionsTangentia EDI

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Tangentia B2B

Tangentia B2B is a one stop shop for your B2B, EDI, trading partner, supply chain requirements, Connect your business with your enterprise-level trading partners worldwide through our network of more than 2000+ EDI connections, and integrate your EDI data with your ERP and other internal business applications seamlessly.

EDI

Reduce your EDI costs, increase your flexibility, and be EDI-ready quickly. Move your EDI to the cloud.

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eCommerce

Seamlessly integrate with 50+ ERP/WMS/E-commerce systems

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Features

STABILITY

Backed by the global Tangentia Consulting & Technology Organization

CREDIBILITY

11 Fortune 500 customers

FLEXIBILITY

Integration to 50+ ERP/WMS/E-commerce systems

RELIABILITY

1000+ B2B customers globally

SCALABILITY

Connect to more than 2000+ trading hubs globally

NO EDI CHARGEBACKS

Guaranteed EDI compliance to trading partner specifications

Tangentia B2B Customers

Testimonials & Case studies

“Tangentia B2B has helped King’s Crown save both time and money.”

Bernadette shares her thoughts on why she picked Tangentia B2B and her positive experience with the Tangentia. Tangentia B2B’s EDI and Order Management cloud offering has helped Kings Crown save both time and money.

“If you are looking for EDI, I would recommend Tangentia B2B.”

National Home Products has been in business for over 50 years delivering on its promises and making their customers happy.

“Tangentias ability to code in many environments gives us the confidence to handle any new business opportunity that comes our way.”

Six years ago we were looking out for solutions that would make us future ready. We finally zeroed in to implementation of EDI solutions from Tangentia B2B

“We recommend Tangentia to firms looking for IBM WebSphere MQ and Financial Services Industry expertise.”

Banking & Financial Industry connectivity with trading partners & clearing houses like DTCC using IBM WebSphere MQ.

“In 2012,we decided to move forward with a non-integrated, web-based EDI solution from Tangentia.”

The web interface is user-friendly, and has an easy learning curve; it also provides the search functionality critical to a company like ours.

Tangentia B2B Partners

Digital Transformation: One Button at a time!

Digital Transformation: One Button at a time!

Tangentia Media

Finding the right promotional giveaways for your exhibition can be a challenge.Promotional products are only successful in marketing your company or organization if the person who receives it is actually going to make use of it. When choosing a product, think about how well you might receive the item?

With this in mind, our marketing team did a fantastic job of getting it right, making our Tangentia Badges a huge success at Vibrant Goa. Check out some of the final designs that made it from the hundreds of initial ones our team worked on.

Tangentia – I Love Goa

The biggest hit at the event by a mile, this button was popular amongst visitors, fellow exhibitors and students alike. We even had our humble button get a few selfies with some big-name personalities like Mr. Piyush Goyal – Minister of Railways & Commerce Government of India, Mr. Pramod Sawant, Honorable Chief Minister of Goa & Mr. Jagat Shah – Chief Mentor Vibrant Goa.

Tangentia – KEEP CALM and AI

Artificial intelligence (AI) not only powers your latest smartphone nowadays but, is also providing solutions to big and thorny problems like business processes, digital security, disaster  management and cancer treatment.
Tangentia.AI is helping companies leverage this potential for faster, smarter and more economic growth. As such, it makes sense to just sit back, relax and AI!

Tangentia – Kitne BOTS the re Kaliya?

Perhaps one of the most iconic dialogues from one of the most iconic movies of yesteryears.
Tangentia’s Robotic Process Automation team took this timeless classic and made it their own. With RPA and Intelligent Automation, the possibilities for business processes and growth is virtually limitless.

Tangentia – To be or not to B2B, That is the question?

Question indeed, and one our experts at Tangentia.B2B can help answer. Tangentia EDI is a one-stop shop for your EDI, B2B, trading partner, supply chain requirements. Connect your business with your enterprise-level trading partners worldwide through our network of more than 2000+ EDI connections, & integrate your EDI data with your ERP and other internal business applications seamlessly.

Tangentia – Wanna chAI?

A quirky take on the famous desi Chai and Tangentia’s budding AI division that is helping accelerate digital transformation through intelligent automation.As the saying goes, a BOT can happen over coffee!

Grab your Free button now!

With all the love and praise we received at Vibrant goa, and with most of our buttons running out of stock by day 3, it only seems fair that we send out some more to those who didn’t get one. If you would like to receive any of these buttons, do let us know in the form below, and Tangentia will send them out to you, for Free!

Tangentia at Vibrant Goa Global Expo and Summit 2019

  • Tangentia at Vibrant Goa Global Expo and Summit 2019

Think Global, Act Local

Tangentia was Gold Sponsor at Vibrant Goa 2019, Goa’s largest international business expo & summit, which kicked off to much fanfare on 17th October 2019 at the S.P Mukherjee Indoor Stadium, Panaji.The 3-day event saw an average of 50,000 footfalls per day, with participation from 56 countries, 20 Indian states & over 3000 businesses.

Tangentia’s booths showcased our acumen in end-to-end solutions for Automation, B2B and Digital. On display were some of Tangentia AI’s interactive bot’s letting visitors get a first-hand feel of how automation and Tangentia.AI is transforming industry processes and experiences.

Visitors to Our Booth

The Tangentia booth had a lot of footfalls – we did not count but surely more than a couple of 1000 over the 3 days. We had delegates from 42 countries visit us and more than 500 business cards. Some of our visitors were quite high profile and can be seen above.

“My Mantra for Success” Campaign

A huge hit at the event was Tangentia’s “My mantra for success” contest. The campaign witnessed 1000+ contestants battle it out online for a chance to win an Amazon Echo every day.The contest was also a great opportunity to interact with the budding goan talent pool of engineers, developers and management professionals, much of whom were fascinated by Tangentia’s AI operations, robotics and internship opportunities.

Tangentia Knowledge Session “The Future of Work, Bots, and AI is here”

Tangentia received a positive response from a number of industry partners, officials as well as local government bodies, who appreciated Tangentia’s longstanding contribution towards Goa’s push towards digital transformation.

Tangentia also organized knowledge sessions at the event for delegates and visitors, with the “The Future of Work, Bots, and AI is here” session highlighting work done by Tangentia AI experts in the fields of Robotic Process Automation, Blockchain, and Machine Learning.

“I Love Goa” Buttons from Tangentia

The Tangentia I Love Goa buttons were a huge success with nearly 1000 of them distributed amongst the attendees. We even had our humble button get a few selfies with some big-name personalities like Mr. Piyush Goyal – Minister of Railways & Commerce Government of India, Mr. Pramod Sawant, Honorable Chief Minister of Goa & Mr. Jagat Shah – Chief Mentor Vibrant Goa.

Canada-Goa B2B Meet

As a Canadian headquartered company & with our CEO being the head of the Canadian delegation to Vibrant Goa, the “Canada-Goa B2B Meet” sponsored by Tangentia was a great opportunity for Goan companies looking to do business with Canadian companies in India or looking to expand to Canada. Discussions were held with the Canadian Delegation about their businesses, plans & aspirations for India & Goa as well as collaboration opportunities.

FOHO (Fractional Ownership Homes)

Another highlight of day one was the grand launch of FOHO (Fractional Ownership Homes), a fresh take on the idea of home ownership. FOHO is the latest addition to Tangentia Venture’s vast portfolio of businesses and startups.
FOHO is a unique opportunity where unconnected buyers collectively & securely own the freehold of a home better known as fractional ownership. We are a more cost-effective alternative to whole ownership of a holiday home with the additional benefit of potentially growing your investment. We’d say that we are smart second-home ownership opportunities.
Learn more at www.letsfoho.com

Our CEO Vijay Thomas summed up the expo perfectly.

“The world is on the cusp of a revolution with multiple market forces like globalization, digitalization, remote working, global creative class, work-life Balance, Blue Economy, fractional ownership of assets and shared services becoming prevalent. Goa could become one of the global leaders with its ability to provide the platform for many of these market forces. Vibrant Goa showcased all that exists in Goa, and more so showcased what was possible in the future and from what we can see the future is exciting for sure. We at Tangentia are really excited about the Goa story and would invite everybody worldwide to come and have a look at what Goa has to offer.”

The Team at Tangentia looks forward to participating in Vibrant Goa 2020 in Dubai.

Tangentia participates in Vibrant Goa delegation to Israel

  • Tangentia participates in Vibrant Goa delegation to Israel

“It was a wonderful experience representing Goa and Goan Business in Israel. Right off the bat, Goa was very well recognized by Israeli business people as multiple generations of Israeli's have been coming to Goa as tourists and the fact that they could do business in Goa brought a smile to their faces. Representing Tangentia which is a technology company, it was initially difficult building a business proposition for the Israeli technology companies to partner with us but after a few conversations, it was evident that there is a huge opportunity for Israeli companies looking at the Indian market to partner with companies based out of Goa and using that partnership to springboard into the Indian market.”

“There is a lot of trust built over the decades between Israel and Goa and with direct flights starting up in September between Tel Aviv and Goa, it will be a huge catalyst to business. Our delegation was successful in convincing multiple major Israeli organizations in the Innovation, Startup and Medical fields to participate in Vibrant Goa and we look forward to meeting them in Goa in October.”

“It was my first visit to Israel and I will confidently say that it will not be the last one. I would like to thank Vibrant Goa for the opportunity to be part of this wonderful delegation and the Government of Goa to have sent Mr. Joshua Dsouza as an official representative on the delegation. Slowly but surely, we are confident that Goa will be on the mind of Israeli businesses when they think of India.”

Teaming Humans with Bots – Workplace strategy for the Future

  • Teaming Humans
    with Bots
    Workplace strategy
    for the Future

Teaming Humans with Bots – Workplace strategy for the Future

by Rajhans Gupta and Nikita Mapari

“Robotgeddon” has become an awfully popular expression nowadays. The term was put together from the word “robot” and “Armageddon.” Could AI really replace humans? Let’s investigate a bit.

We are living in the golden age of digitalization: in the past few years, many new technologies have emerged. Two significant ones are artificial intelligence and automation. These rapidly developing fields have an effect on almost every area of business. If businesses want to work efficiently and successfully, they have no other choice but become better at AI and automation.

Automation or Artificial Intelligence

Automation means that a software (bot) does an activity automatically which could otherwise be done by using actual manpower. This is also the field where robotics is most useful. A machine that had been set up appropriately is able to do the task it has been programmed to do. Thanks to automation, you can put an end to boring and repetitive activities, which can easily and perfectly be done by a machine instead. The most important areas where automation is used are manufacturing, online marketing and sales processes.

Artificial Intelligence

AI is no different than a set of computers and automated software's that normally require human cognitive functions (e.g. the ability to learn). You can see that there are similarities between the two technologies, but there is a significant difference too: while AI is able to learn and apply the things it had learned in practice, automation can only perform those monotone tasks that it had been programmed to do. The most important companies to consider when talking about artificial intelligence are Google, Microsoft, and Facebook.

Productivity Fluctuation: Robots Vs Humans

Creating a balanced and even workflow will optimize productivity for robots – in the same way as it does for human workers. Surely robots don’t get tired, can work 24/7, are fully skilled at what they are programmed to do, and don’t have any pesky motivational issues – so must their productivity always be consistently high?

For a bot or human, productivity is best measured as a ratio of output: input. How much work did we get out for the amount of time we put in? For this to make sense we generally convert time into “capacity to do work” based on some idea of how much work could be done in a given time.

So, if Person A completes 75 tasks in a day and they had the capacity to complete 100 then their productivity was 75%. Similarly, if Robot B completes 500 tasks in a day and had the capacity to do 1,000 then their productivity would be 50%. As we begin to increase our investment in Robotic Process Automation (RPA) and AI: the productivity of this (potentially) cheaper processing resource will matter – if not so much now then certainly when everyone is employing RPA to do similar tasks within the same services.”

But why would Robot B only do 500 tasks? They wouldn’t dawdle because they didn’t like their boss. They wouldn’t spend hours on social media, and they would surely only be allocated tasks that they were 100% capable of processing. Maybe Robot B could only process 500 tasks because there were only 500 available to be done. The plain fact of the matter is that with humans and robotics increasingly working alongside one another in service operations a blended and balanced approach needs to be taken on the issue of productivity.

Working Together

When thinking about smart machines or robots entering many domains of our lives, several visions come to mind: robots taking over the world, jobs disappearing, and machines running amok and reproducing themselves. But a look at what’s being developed today, and the potential of these new powerful machines, yields an optimistic view of the future.

Despite generations of new technologies, we’re now working more rather than less. Adult male peasants in the 13th century in the United Kingdom worked an average of 1,600 hours a year; a manufacturing worker in the United Kingdom in 1990 worked 1,850 hours; an investment banker in New York today works close to 5,000 hours. There hasn’t yet been a technology that has resulted in our working less.

This is because machines don’t just replace what we do, they change the nature of what we do: by extending our capabilities, they set new expectations for what’s possible and create new performance standards and needs.

So will robots take our jobs?

You’ve got no reason to worry though. An article from Forbes sums up beautifully the biggest paradox that comes to mind in connection with automation and AI. It is a generally accepted view that a software can do a human job more efficiently and with a smaller chance of errors than an actual human being. If you want to apply this theory to all aspects of life, then that means that robots are actually better at educating people and raising children, too. And the paradox is right there: if humans do have to compete with such smart machines, then there are also machines among these which educate and train humans to be better and to take advantage of their qualities (and these people will continue to build robots and make them even better so that the robots can further educate them, and so on). This way, it is already not so easy to imagine that robots will take jobs, right?

To Sum It Up

Amateurs armed with good strategies and harnessing the computational power of machines turned out to be the winning combination! That’s the best metaphor for the evolving new machine-human partnership: with smart machines as our partners, we can operate at the level of grandmasters, not just in chess but in most domains of our lives, from science and medicine to gaming and commerce.

The combination of humans partnering with bots and using superior strategies opens up new worlds for exploration. The thought of robots taking over the world one day and people losing their jobs, there is no reason to worry about such things. Automation and artificial intelligence are rather a blessing than a curse – they actually don’t take jobs from people but complement them.

About the Author

The authors, Rajhans and Nikita work with Tangentia India Technologies and are based out of our Goa and Pune operations in India respectively.

Tangentia is an implementation expert in AI,RPA & Automation solutions & has partnerships with UiPath, Automation Anywhere & Blueprism.

To learn more about Automation & what Tangentia can do for you please follow this link .

Get Started today

Interested in Automation but don’t know where to start? Looking for a reliable Automation reseller with the best possible pricing? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
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Cycloides Inc Canada closes strategic funding round led by Tangentia Ventures.

Cycloides Inc Canada closes strategic funding round led by Tangentia Ventures.

Cycloides Inc Canada today announced the closure of a Strategic Funding round led by Canada based Tangentia Ventures Limited. This partnership aims to accelerate growth for Cycloides Inc and Tangentia in the technology Consulting and R & D verticals. “What Anil and team have created in five years is really impressive,” says Vijay Thomas, CEO of Tangentia- “This partnership will create a very productive and unique eco-system where one organization complement’s the other in technology, growth, and strategy. This is a huge step for both Tangentia and Cycloides”, he added. “We are positioning to launch ourselves to other niche verticals and Tangentia Ventures would be an ideal partner for us to scale our business globally”- remarked Anil A R, Cycloides Inc. Technology Consulting and Digital Transformation are the major focuses of Cycloides Inc. They have developed state of the art solutions for enterprises across the world. Many of the Cycloides’ R&D projects are changing the way we live.

About Cycloides

Cycloides is now one of the fastest-growing and technologically proficient Technology Consulting Companies in Canada. With their global Excellence Delivery Centres in India as its backbone, Cycloides have been able to deliver projects with unparalleled quality and reliability. With their headquarters in Toronto Canada, Cycloides has two global Delivery Centres in Thiruvananthapuram India, one of the best Technology eco-centers in the country. They also have a presence in four other technology and business hubs around the world- Vancouver, New York, Singapore and Kuala Lumpur.

About Tangentia

Tangentia is a leading global boutique digital transformation firm with a comprehensive portfolio of solutions that can bridge the most challenging technology gaps while creating significant cost efficiencies and competitive advantage across an organization and its supply chain. Tangentia is headquartered in Toronto, Canada with additional offices in New York, USA, and Goa, India. Tangentia made the 2018 GROWTH 500 list with five-year revenue growth of 586% for the 6th year in a row. This achievement reflects the consistently high growth rate that Tangentia has been able to achieve over the almost 15 years of its existence since its inception in Toronto in 2003. Tangentia America was also on the INC 5000 list of fastest-growing companies in the USA in 2018. Tangentia business divisions include Tangentia AI which provides AI, RPA and Blockchain solutions, Tangentia B2B provides EDI, Ecommerce, Data Sync, and PIM solutions and Tangentia Consulting provides Salesforce & IBM consulting, Mobile and Application Development. Tangentia provides these solutions to multiple industries like Banking & Financial Services & Insurance(BFSI), Retail, Consumer Packaged Goods (CPG), Telecom, Healthcare and Government.

Tangentia moves to Toronto Waterfront, fastest growing global tech hub

  • Tangentia moves to Toronto Waterfront,
    the fastest growing global tech hub

In the last few years here at Tangentia, we have experienced tremendous growth as a Global Boutique Digital Transformation company. We have outgrown our offices in Toronto twice and are now moving to the beautiful new building, 130 Queens Quay. With many customers in the downtown area, it made sense that our new office be closer to them.

We will be in good company as Microsoft, Google and Facebook will all have offices in and around the area. The Sidewalk Lab (Google City) will also be in the neighbourhood. It’s great to be right in the heart of the action. “When customers and partners visit our office we want them to feel comfortable, confident and calm. We feel this move says we mean business.” say Vijay Thomas, CEO of Tangentia.

For many years, we have been doing a lot of work in banking, financial services and insurance (BFSI). With many business rethinking how they optimize business processes, Robotic Process Automation (RPA) and Artificial Intelligence (AI) projects have been continuing to gain traction and are expected to only increase in demand.

Did you know that according to HFS, the RPA market is expected to be $4.8 billion USD in 2022 and according to IDC, the AI market will be $77.6 billion in 2022. This means lots of opportunities for everyone and a transformational shift for business and the future of work.In the next few weeks, we plan to host a customer appreciation event to thank and acknowledge those who have helped make our growth possible. So stay tuned.

One of my favourite aspects of our new office is the rooftop terrace which will be a must-see when customers and partners visit our office. It is without a doubt the best view in the building as it overlooks Sugar Beach and a sprawling Lake Ontario.

When it’s time for lunch, St. Lawrence Market is a 5 minute walk up the street. There are so many great food choices that it will be hard to pick a favourite. Come and join us for lunch and help us decide where to eat next.

Our new office is more accessible, as it is just a 10-minute walk from Union Subway Station. In the short time we’ve been here, I have seen some great patios along the lake and a vibrant community of businesses and creative enterprises. Here is a photo from right outside Union Station .

Recently, we had a traditional Earthen Lamp prayer ceremony to bless our office with good fortune. Part of the ceremony also involved smashing a coconut against the ground, which proved to be more difficult than originally thought. Here is a photo from the celebration.

At the moment, we are putting the final touches on the office. Stay tuned for an invitation to join us for the official grand opening. While your anticipation builds, please feel free to check out our Robotic Process Automation (RPA), Artificial Intelligence (AI) and Electronic Data Interchange (EDI) updates.

If you need a great team to deliver your RPA or AI projects on-time and on-budget, look no further than Tangentia, the leader in Global Boutique Digital Transformation.

Get Started today

Interested in Automation but don’t know where to start? Looking for a reliable Automation reseller with the best possible pricing? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
Contact Us

Robotic Process Automation – The Next Big thing to look out for!

  • Robotic Process Automation
    The Next Big thing to look out for!

Robotic Process Automation – The Next Big thing to look out for!

Let me introduce you to the new kid on the block- Robotic Process Automation or in short RPA. RPA is a technology based on “bots” or software programs that can be easily programmed to perform tedious, mundane or repetitive tasks. Some examples of this are to collect data, feed data to applications, manipulate data, control various desktop applications etc. It can perform repetitive tasks much more accurately, quickly and tirelessly than a human, giving them time to do tasks that require  human qualities like reasoning, interaction with customers, emotional intelligence etc. Basically, RPA takes the robot out of the human.

In a birds-eye view, RPA software is being distributed by many vendors like Blue Prism, Automation Anywhere, UIPath, Kofax (Previously known as Kapow), ProcessRobot , OpenSpan (Acquired by Pegasystems) and adding to this list of organizations, there are various upcoming organizations and start ups who are trying to make a mark in the RPA space.

There are a huge number of real life examples of successful implementation of RPA at Tangentia itself. One of the many examples would be that Tangentia deployed a bot at one of the oldest companies in the Insurance sector in Canada. The objective was to automate their back office claim closing process on the web interface and the mainframe terminal (Claim management System. Using UIPath, Tangentia was
able to automatically collate, integrate and distribute these details in their systems which would allow them to close claims efficiently. The company was able to close a greater number of claims in a day as the time required to close a claim reduced by 50% and resulted in more satisfied customers.

Another case was when Tangentia automated the claim experience report i.e. reduce time taken to consolidate and generate reports, for a Financial Consulting Company. The objective was to integrate 300+ reports of 15+ carriers with more than 100+ clients for each carrier. Each carrier has multiple clients along with a unique set of clients. Automatically collating, consolidating and distributing these details into relevant reports allowed them to release claims efficiently and in a timely fashion.
Information about each claim gathered from various sources and analysis also had to be distributed and archived for compliance purposes. Using Automation Anywhere, Company was able to distribute details efficiently. The company was able to reduce the time taken to complete the task by 90% reduction in the efforts.

Tangentia also applied RPA in the Human resource department to automate a part of the recruitment process- sourcing. Traditionally, sourcing was considered to be a manual process where in recruiters had to type the keywords, use appropriate filters and find the right candidate fit for the role on various Job Portals. Using Automation Anywhere, this process was automated wherein, recruiters now had to enter the keywords on LinkedIn along with the specific criteria and this bot would gather the data and export it in an excel sheet. This significantly reduced the time spent on sourcing and finding the right candidate has become easier and less stressful.

Another example is of a Bank which used RPA to reduce their loan processing time by eliminating the repetitive copy-paste function of customer details from one banking system to another. The loan processing time reduced from 30 minutes to a mere 10 minutes, which led to higher customer satisfaction.

Mostly, Companies in the Banking and Insurance sector are finding that automation is a fast and cheap way of applying superior capability to the problem of compliance. The customer service also improves as there is more power in the process. For example, if the organization receives a lot of inquiries, you can free the employees to solve more important problems Based on the above examples, we can conclude that RPA improves the efficiency and productivity, eliminates human error, results in cost savings and most importantly impacts the ROI in a significant manner

A study conducted at the Everest Group showed that Top performers earned nearly four times on their RPA investments, while most of the other enterprise earned nearly double. In another study, NASSCOM reports extensive cost savings of up to 65% for onshore operations, 30% in offshore delivery, and investment recovery in as short as 6 months.
Here are some interesting facts I stumbled upon while doing my research on the buzzword- RPA

  • According to Forrester, the RPA industry will grow from $250 million in 2016 to $2.9 billion in 2021
  • According to Grand View Research, the RPA industry will grow from $358 million in 2017 to $3.11 billion in 2025
  • As per Deloitte`s Third Annual RPA Survey, a wealth of information on RPA, 53% of survey respondents are beginning their “RPA journey”
  • Deloitte stated that if this trend continues then RPA will achieve “universal adoption” in the next five years
  • Deloitte has reported that contrary to popular belief employee resistance has been low among adopting institutions- only 17% have reported resistance from employees
  • According to a PwC Global Operations Survey, RPA not only delivers benefits(reduces costs,increases efficiency, provides a superior customer experience, and dramatically reduces errors) quickly, but ROIs of between 300 – 800% are common

To understand the rise of this sector, we can also look at the funding received by the vendors of this technology

  • UIPath has raised $568 million in funding as on April 2019
  • Automation Anywhere has raised $550 million as on December 2018
  • Blue Prism will issue new stock to raise $130 million in funds as on January 2019
  • Workfusion has received more than $121 million in total funding as on January 2019

For years, we have been performing these boring and deskilled tasks but RPA has changed the game. It has become a disruptive force which has changed the relationship between technology and people, which is essential for a better future.
The future of RPA is intelligent automation coupled with machine learning and cognitive algorithms.

There are really good RPA software’s available in the market today, which has the ability to independently correct errors and adapt to certain situations. The intelligent automation of the future will be to apply judgment and learning.

About the Author

The author, Mamatha Manu, is a Recruitment Manager with Tangentia's Consulting group based out of its Goa, India office.

Tangentia is an expert in implementing RPA solutions and has partnerships with UiPath, Automation Anywhere and Blueprism.

To learn more about Automation and what Tangentia can do for you please follow this link .

Get Started today

Interested in Automation but don’t know where to start? Looking for a reliable Automation reseller with the best possible pricing? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
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P&C Insurers – RPA & AI is a no brainer

  • P&C Insurers:
    RPA & AI is a
    no brainer

Introduction

Up until recently traditional P&C (Property and Casualty) insurers were protected from barriers to entry and disruption from new entrants. But the evolution of technology and customer interaction through various digital channels have opened up the floodgates for more nimble and efficient new operators to enter the market.

This has put the whole P&C insurance industry open for disruption and a shakeup. Added to this mix, is the fear among traditional insurers that the likes of Amazon, Apple or Facebook may enter their industry and by leveraging their digital platforms they can turn the process of buying a policy or filing a claim into one smooth and satisfying experience for the customer. So, the question then becomes what do they do to mitigate this threat? As they say the best defense is an offense.

Most P&C insurers see the clouds appearing on the horizon and that they have to embark on a journey of digital process automation and transformation sooner rather than later. In the digital age where information is available instantaneously, customers are not loyal to any one provider and gravitate to the one providing best value and experience for their money.

However, for traditional insurers this change may not be easy. Unlike the new entrants, traditional P&C insurers carry the baggage from the mainframe era and it may not be that easy to move faster to a digital based operational state from current state. This is where the services of a consulting partner can come in handy in speeding up the digital automation journey. We at Tangentia can certainly help in this regard. But before I talk about our value proposition it would be prudent to set the stage with the current state of affairs at most Insurers.

Current state of affairs

Most traditional insurers have their policy administration, billing, underwriting, and claims processes spread across their front, middle and back end office systems. The more progressive ones may have application platforms such as Guidewire for policy administration, Salesforce for customer relationships or Conversense for claims management.

While all those systems are steps in the right direction but we need to understand that the computerization at most traditional insurers began in the mainframe era and they still have legacy systems where the bulk of their old business resides. With the advent of internet, large investments were made in customer facing systems but the business continued to operate from a legacy system base.

As a result, while on the outside everything looks smooth but the inside is a different story. In the back-office operations, we find that the data gets replicated across multiple systems which creates added work with data being downloaded to spreadsheets and shadow databases and massaged or refined before being uploaded to another system. As a result, processes are broken and not very smooth, there are multiple touchpoints which slow down the operations and the whole process is prone to errors and delays. For a better customer experience, efficiency and effectiveness, processes need to be streamlined, seamless and digitally integrated from the point of origin to the point of delivery.

While the best solution would be to get a newer system that provides integrated seamless processes, yet this is not possible for most traditional insurers who have to leverage investments in their old systems. So, what do they do? The answer to that will depend on a progressive mindset and an openness to imbibe new automation technologies such as Robotic Process Automation (RPA) and AI. The good news is that we at Tangentia offer these tools and technologies for insurers. So, let’s look at our value proposition for P&C Insurers.

What does the Tangentia RPA & AI practice offer Property & Causalty (P&C) Insurers:

  • More than 12 years of Insurance Industry experience and deep knowledge and understanding of insurance processes and the insurance technology stack.
  • Implementation of consulting projects and Automation solutions at some of the top North American insurers.
  • Strong partnerships with IBM, Blue Prism, UiPAth, and Automation Anywhere for RPA and IBM Watson and Microsoft, Google, Amazon for AI .
  • Knowledge of Insurance industry software like Guidewire, Duck Creek, Insurity, Majesco, One Shield & DXC Technology.
  • A large technical pool of talent in USA, Canada & India.
  • A highly evolved RPA/AI implementation methodology that will guide you every step of your RPA/AI journey that will result in faster turnaround times and higher ROIs.
  • We can help in identifying processes for automation with our process discovery sessions and conduct a Proof of Concept to make you feel more comfortable with our implementation and delivery methodology and help you in setting-up a Centre of Excellence (CoE) for scaling and enterprise roll out.

About the Author

The author, Jaideep Kala, is a Sr. Manager with Tangentia Automation Practice (North America) based out of its HQ in Toronto, Canada.

Tangentia is an expert in implementing RPA solutions and has partnerships with UiPath, Automation Anywhere and Blueprism.

To learn more about Automation and what Tangentia can do for you please follow this link .

Get Started today

Interested in Automation but don’t know where to start? Looking for a reliable Automation reseller with the best possible pricing? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
Contact Us